The 2025 Cyber Claims Report provides detailed insights into the global cyber threat landscape, highlighting a 7% decrease in claims frequency and the ongoing prevalence of email-based attacks like Business Email Compromise (BEC) and Funds Transfer Fraud (FTF). Key findings also include a significant reduction in ransomware severity and ransom demands, alongside the effectiveness of Active Insurance in reducing claims. #BusinessEmailCompromise #FundsTransferFraud #Ransomware #CoalitionInsurance
Keypoints
- Report Structure: The report includes sections such as Executive Summary, Key Findings, Global Highlights, Claims by Industry, Claims by Revenue Amount, Business Email Compromise, Funds Transfer Fraud, Ransomware, Miscellaneous First-Party Loss, Third-Party Allegations, and Methodology, each discussing statistics, trends, and case studies related to cyber claims and risk management.
- Key Statistics: Global claims frequency decreased by 7% to 1.48% in 2024, while average loss amounts stabilized around $115,000 globally; ransomware frequency decreased 3% and severity decreased 7% to $292,000 with ransom demands dropping 22% to $1.1 million.
- Email-Based Attacks: Business Email Compromise (BEC) and Funds Transfer Fraud (FTF) comprise 60% of claims, with BEC claims frequency steady at 0.44% but severity rising 23% to $35,000; FTF frequency decreased 2%, and initial severity fell 46% to $185,000 due to behavioral changes in threat actors and financial institutions.
- Industry Trends: Consumer staples had the highest claims frequency at 2.60%, while energy experienced a 1,200% spike in claims severity to $292,000; healthcare saw a 19% decrease in claims frequency but a 32% increase in severity to $145,000, reflecting varying risk profiles across sectors.
- Claims by Revenue: Smaller businesses (
- Active Insurance Impact: Coalition policyholders experienced 73% fewer claims than industry averages, with 56% of reported matters handled without out-of-pocket costs, reflecting proactive risk management and rapid incident response.
- Recovery Efforts: Coalition successfully recovered $31 million from FTF events in 2024 through clawback processes, emphasizing the importance of timely reporting and cooperation with authorities.
- Ransomware Variants: Akira ransomware was the most common variant (13%), with an average demand of $692,000; Coalition Incident Response negotiated a 60% average reduction in ransom payments among those opting to pay.
- Emerging Event Types: The report introduced miscellaneous first-party losses and third-party allegations, including system failures, insider threats, and privacy violations, expanding the scope of cyber claims coverage.
- Future Outlook: Emphasizes prioritizing prevention over reaction by investing in continuous cybersecurity improvements, leveraging real-time threat intelligence, and fostering partnerships between businesses, brokers, and insurers.
Source: Awesome Annual Security Reports - The reports in this collection are limited to content which does not require a paid subscription, membership, or service contract. (https://github.com/jacobdjwilson/awesome-annual-security-reports/)